Core Viewpoint - West Red Lake Gold Mines Ltd. has initiated a fully funded infill and conversion drilling program at its 100% owned Rowan Project, aiming to enhance resource confidence and support future economic studies [1][3]. Summary by Sections Project Overview - The Rowan Project is located in the Red Lake Gold District of Northwestern Ontario, Canada, and is projected to produce 35,000 ounces of gold annually according to the Preliminary Economic Assessment (PEA) [1][3]. - The company aims to increase the combined production rate to up to 100,000 ounces per year in the coming years through successful permitting and development [3]. Drilling Program - The drilling program will consist of 5,000 meters of HQ diameter diamond drilling, focusing on infill drilling on Veins 001 and 004 and conversion drilling on Veins 006b and 013 [5]. - Approximately 63% of the tonnes and 72% of the ounces in the PEA are already classified as Indicated resources [5]. Economic Assessment - The PEA indicates robust preliminary economics for an underground mine at Rowan, with an average grade of 8.0 grams per tonne gold over a 5-year mine life [5]. - The combined Pre-Feasibility Study (PFS) is expected to be completed by Q3 2026, establishing a valuation benchmark for the total Red Lake assets [4]. Permitting and Regulatory Framework - The new One Project, One Process permitting framework in Ontario is anticipated to expedite the permitting process for projects like Rowan [4]. - The Advanced Exploration permit is targeted for approval in 2027, which is crucial for bulk sample extraction [5]. Resource Potential - The Rowan resource comprises 26 domains with multiple parallel veins, with significant potential for resource expansion and upgrade [7][10]. - The highest-grade intercept recorded at Rowan was 70.8 g/t gold over 8.3 meters, indicating potential for deeper mineralization [10]. Historical Context - Previous drilling campaigns primarily focused on visible gold in quartz veining, often neglecting surrounding rock, which may have led to an underestimation of the resource [9]. - The 2025 drilling program aims to fill gaps in historical data and reassess the potential of Veins 006b and 013 for mine design [9]. Company Background - West Red Lake Gold Mines Ltd. is focused on advancing its flagship Madsen Gold Mine and the associated land package in the Red Lake district, which has historically produced over 30 million ounces of gold [23].

The Property hosts the Namibplaas uranium deposit under Exclusive Prospecting Licence (EPL-3638), which together with the Valencia uranium deposit under Mining Licence (ML-149) ("Valencia") comprise the Norasa Uranium Project ("Norasa") (see figure 1 below). The principal objectives of this program are to infill and upgrade the existing Namibplaas mineral resource to the Measured and Indicated category and test down dip mineralization potential (drill target 1: Area B (figure 2)); and to conduct reconnaissa ...

TORONTO, July 17, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to provide additional drill results from a recently-completed 26,854-metre diamond drill program initially announced on January 22, 2025 at the Company’s Goldboro Open Pit Gold Project (“Goldboro”) in Nova Scotia. The drill program is primarily designed to infill specific areas of the open pit Mineral Resource identified to improve geological and grade continuity and potentially ...

TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to provide a further update on its ongoing 25,000-metre diamond drill program initially announced on January 22, 2025 at the Company’s Goldboro Gold Project (“Goldboro”) in Nova Scotia. The drill program is primarily designed to infill specific areas of the open pit Mineral Resource identified to improve geological and grade continuity and potentially upgrade certain areas of In ...